Dash (DASH) is an open source peer-to-peer cryptocurrency that offers instant transactions (InstantSend), private transactions (PrivateSend) and token fungibility. It was rebranded from "Darkcoin" to "Dash" on March 25, 2015, a portmanteau of "Digital Cash". Dash operates a decentralized governance and budgeting system, making it the first decentralized autonomous organization. Dash uses a chained hashing algorithm called X11 for the proof-of-work. Instead of using the SHA-256 or scrypt it uses 11 rounds of different hashing functions.
The currency was launched in January 2014 as "Xcoin" by Evan Duffield, as a fork of the Bitcoin protocol. It is an altcoin and in its early days it was subject to pump and dump speculation. It was rebranded as Darkcoin, which received press from the media as being used in dark net markets. In March 2015, it rebranded again with the name Dash as a portmanteau of 'digital cash'. As of August 2016, Dash is no longer used in any major dark net markets worth noting.
Dash faucets are a reward system, in the form of a website or app, that dispenses free dash in the form of a dashies, which is a hundredth of a millionth DASH, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies. Rewards are dispensed at various predetermined intervals of time. Dash faucets usually give fractions of a dash, but the amount will typically fluctuate according to the value of dash.
Free dash faucet is a great way to help introduce new people to dash, or to your favourite altcoin. Many faucets provide information to newbies as well as offering them some free coins so that they can try before they buy, experimenting with a test transaction or two before putting real money on the line. Since this whole area is so new and a bit scary to some people, who perhaps don't quite trust it with their hard earned cash yet, this is a great way to promote digital currency and bring in new users.